www.iva.co.uk

The stress of being in debt for as long as I can remember has taken it's toll on me and I've found it hard to cope at times. My biggest concern is what I have put my children through.

The sheer stress of being hounded by creditors has taken it's toll changing my mood from being fun loving to uptight and miserable with a total lack of energy. This is why we have chosen the IVA route.

I would love to be able to provide them with what they want yet often they have to wait for ages until I can afford what they need.

Our IVA proposal is going to be tight for us to be able to achieve a decent return which is likely to be accepted.

I decided as a positive to try and encourage the kids not to follow our past spending habits and teach them the importance of saving. I have opened each of them a bank account and although we cannot afford to put money aside for them I have the time to help the 'earn' bits of cash.

I walk dogs for neighbours with my 9 year old and do a paper round with my 12 year old. Should I be declaring this 'income' to our IP for consideration? I do not take any of this cash as it is purely for the children which they use if they want to go to the cinema or swimming or treat themselves.

There is no need to declare your children's pocket money to your IP, Nico - and well done to you for educating them into enterprise at such a young age!

I would think that the amount earned is negligible when compared with your other income, so I would have thought not.

I am not an expert though, and I am sure one will be along to answer your question.